26 Sep 2013
AUD/USD breaks down and falls to 0.9365 as GDP fuels Dollar
FXstreet.com (San Francisco) - The Aussie is currently trading down against the US dollar as initial reaction following the no revision in the US Q2 GDP numbers and better than expected Jobless claims.
After US data, the AUD/USD lost around 20 pips from 0.9380 to test the 0.9360 area, extending declines from 0.9400 reached in the European session. Currently the pair AUD/USD is pricing at 0.9370, almost flat on the day.
The short term perspective is now slightly bearish according to the FXstreet.com trend index in the 15-minute charts. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
Technical Analysis and Strategic Bias on AUD/USD
Karen Jones, Head Technical Analyst at Commerzbank suggests that “continues to slide back towards the 0.9318 July high. While it is likely to consolidate here, it needs to hold over the 0.9318 level. Failure here will imply a loss of momentum and potential for a slide back to the .9233 August high, then .9160 55 day ma.”
After US data, the AUD/USD lost around 20 pips from 0.9380 to test the 0.9360 area, extending declines from 0.9400 reached in the European session. Currently the pair AUD/USD is pricing at 0.9370, almost flat on the day.
The short term perspective is now slightly bearish according to the FXstreet.com trend index in the 15-minute charts. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
Technical Analysis and Strategic Bias on AUD/USD
Karen Jones, Head Technical Analyst at Commerzbank suggests that “continues to slide back towards the 0.9318 July high. While it is likely to consolidate here, it needs to hold over the 0.9318 level. Failure here will imply a loss of momentum and potential for a slide back to the .9233 August high, then .9160 55 day ma.”